Helping you divide retirement plan assets in a divorce
What is a QDRO?
A "Qualified Domestic Relations Order" (QDRO) is a domestic relations order that creates or recognizes the existence of an “alternate payee's” right to receive, or assigns to an alternate payee the right to receive, all or a portion of a participant’s benefit under a retirement plan in accordance with a Property Settlement Agreement. In simple terms, it is a legal document, entered by the court, which describes in detail how and when retirement plan assets will be shared with an alternate payee.
Drafting a QDRO is complex. There are many things to consider when drafting a QDRO as they must comply with state and federal law as well as conform to the terms of each retirement plan. Our firm is here to help you through this complex process.
Scroll down for more information or to start the process now.
Our Services
Drafting of Qualified Domestic Relations Orders (QDRO) for divorces that occur in the state of New York
Consulting provided to divorce attorneys on retirement plan rules and regulations in relation to specific matters
Review and assist divorce attorneys with proper Agreement language for specific
retirement plans
Review of draft QDRO(s) completed by other QDRO experts
Calculation of pre-marital or post commencement separate property component in a retirement plan
Calculation of investment experience for a Defined Contribution Plan
Pension Valuations for Defined Benefit Plans (collaboration with independent actuary)
Providing expert testimony on QDRO matters
The QDRO Process
01
Getting Started
- Email, fax or mail a copy of your executed Property Settlement/Separation Agreement and Judgment of Divorce, if available to our office. Files can also be uploaded through the Contact tab above.
- We will review the Agreement to assess the scope of work and determine the amount of QDRO(s) be completed.
- We will respond back with our fee, intake form, service agreement, and list of additional items needed to proceed with drafting the QDRO(s).
02
What's
Next
- Upon receipt of the requested documents and payment in full, we will begin drafting the QDRO(s) in accordance with the executed Agreement.
- Once drafted, the QDRO(s), in draft format, will be sent to the retirement plan(s) for their review and pre-approval.
- Following receipt of plan approval, a final copy of the QDRO(s) will be sent to all involved parties (participant, former spouse and/or attorneys) for review, execution, and submission to the Court for the Judge's signature. Our services are now complete.
03
How does the QRDO(s) get signed by the court?
- After all parties have reviewed and signed the QDRO(s), the parties and/or their attorneys must submit the QDRO(s) to the Court for the Judge’s signature.
- Once the Court signs the QDRO(s), the certified copies should then be returned to the individual who submitted them.
04
When are the assets divided?
- The certified copies of the QDRO(s) must then be forwarded to each plan administrator for the final separation of benefits. The parties and/or their attorneys are responsible for sending the certified copies to each retirement plan.
- The Plan will reach out to all parties for further information, if needed.
- The timing and form of payout to the alternate payee will vary depending on the type of retirement plan being divided.
Important Information
The QDRO process is not complete until the parties and their attorneys receive written notification from the retirement plan that the court certified copy of the QDRO has been received and deemed acceptable by the Plan.
